The next time the process will be more deliberate and planned out. :-)

You have to work your way up, and it takes time, hard work, and a deliberate progression up the experience ladder.

The objective is to hold long term and rent.While the bank deliberates, I've been researching rents and it seems like $1,800 is conservative.

Here's why...We all have full-time jobs, so we have the luxury of being able to get into the business in a very methodical, deliberate and intentional manner. 

Besides, he deliberately defaulted on his loan.  

I don't know if it is deliberate. 

After spending money fixing up a property, I obviously want to make sure the tenants occupying it are not damaging or tearing anything up....whether accidentally or deliberately......or worse still, using my property as a front for some shady illegal activity    (take your pick on that one....the illegal activity that is).I also want to make sure I am on top of the stuff that will break down due to normal wear and tear and stuff that needs regular maintenance.I also want to make sure the tenants are doing their part in up keeping the property as necessary....mowing lawns, shoveling snow from sidewalks and generally maintaining a reasonably clean interior and exterior for their own good and mine.If and when the tenants do tear something up, or something breaks down due to no fault of their own, unless it adversely affects their daily routine, I would think that they most likely would not report it.

After deliberating I decided to have the property appraised prior to making improvements and figured id get the appraisers opinion rather my proposed upgrades would increase the properties value.

I deliberately have all rentals come up in May/June since it is "moving season".

They cover vandalism, and what your tenant did, was it deliberate out of spite?